Delhi-NCR sees highest number of new startups during January-June, 2020

#startups #startupecosystem #delhincr #startupbangalore #startupmumbai

Delhi-National Capital Region (NCR) has witnessed the highest number of startups being founded in the first six months of this year, on the back of its digital ecosystem, government support and infrastructure, including startup accelerators, incubators and enablers.

Between January and June, 109 startups were founded in Delhi-NCR, followed by 63 in Bengaluru and 44 in Mumbai, according to data by venture capital industry tracker Tracxn. Sectors such as edtech, fintech and enterprise applications saw more traction with several start-ups also repurposing their solutions to offer covid-related solutions.

Startups based out of Bengaluru, however, raised $2,436 million, more than their Delhi ($602 million) and Mumbai ($397 million) counterparts in the first half of the year, data showed. Big-ticket funding deals were in the edtech space with Byju’s leading the pack, valued now at $10.5 billion after raising $100 million Mary Meeker's fund Bond and another $110 million raised by Unacademy from Facebook and General Atlantic.

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Delhi-NCR sees highest number of new startups during January-June

Between January and June, 109 startups were founded in Delhi-NCR, followed by 63 in Bengaluru and 44 in Mumbai, according to data by venture capital industry tracker Tracxn. Sectors such as edtech, fintech and enterprise applications saw more traction with several start-ups also repurposing their solutions to offer covid-related solutions.

Covid Research: IIT Delhi, National Chemical Laboratory working on home-based testing kits for COVID-19

#covid19 #covidtesting #iit #iitdelhi #ncl #testingkit

Home-based COVID-19 testing kits could soon be a reality with the Indian Institute of Technology, Delhi and the National Chemical Laboratory (NCL) Pune working on an alternative testing method which can not only be performed by individuals at home but will also deliver quick results.

The collaborative project with the NCL, which comes under the aegis of the Council for Scientific and Industrial Research (CSIR), has also received financial support from Microsoft India and is expected to be ready in a month's time.

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IIT Delhi, National Chemical Laboratory working on home-based testing kits for COVID-19

Home-based COVID-19 testing kits could soon be a reality with the Indian Institute of Technology (IIT) Delhi and the National Chemical Laboratory (NCL) Pune working on an alternative testing method which can not only be performed by individuals at home but will also deliver quick results.

Google Pay not a payment system operator: RBI to Delhi High Court

#paymentsolutions #rbi #litigation #regtech #fintech #paymentservices

In an ongoing PIL, RBI has also told the Delhi High Court that since Google Pay does not operate any payment system, it does not find a place in the list of authorised payment system operators published by the National Payments Corporation of India (NPCI).

The bench said the matter requires detailed hearing as it affects other third party apps and listed it on July 22.

All FinTech startups using user consent to make payments in their payment apps should be careful and make it clear on their websites that they are not a payment register operator approved under NPCI and they are only user consent based payment solution provider.

Now the question is whether such services also come under the purview of NPCI?

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Google Pay not a payment system operator: RBI to Delhi HC

Reserve Bank of India (RBI) Governor Shaktikanta Das. The Reserve Bank of India (RBI) has told the Delhi High Court that Google Pay is a third party app provider (TPAP) and does not operate any payment systems. Therefore, its operations are not in violation of the Payment and Settlement System Act of 2007, RBI has told a bench of Chief Justice D N Patel and Justice Prateek Jalan.